Prime Minister Joseph Muscat this evening launched a new yacht marina bearing the name of Marina di Valletta, at Sa Maison with an investment of €7.5 million.
Dr Muscat said that the maritime sector remains one of the most important for the country, despite the economic challenges in the region. "What we are launching today is a clear vision to create new sectors in the industry and in the market as a whole."
He said the government is thrilled with the partnership with Azimut Benetti stating that the government does not shy away from pro-business approach. This project is expected to be concluded in time before the next yachting season.
Company Director Niki Travers Tauss, said that this investment is aimed at creating a new yachting destination for Malta. He explained that following a wave study conducted by Transport Malta and later, an analysis by the company showed a need for a floating breakwater. The works on this breakwater start this September. A second intervention requires a 200 metre rubble wall. "It will be one of the most luxurious yacht Marina's", he added.
The Marina di Valletta will have controlled access parking and round-the-clock berthing services. Yachts of up to 28 metres will be able to berth in this new marina. This means that Malta will now be able to host transit yachts. The marina will provide an additional 274 berths.
The Maltese government handed Azimut Benetti a 25-year concession.
Paulo Vitelli Chairman of Azimut Benetti Group said that ever since he had his first yacht, he had dreamed of opening a business related to this industry in Malta. "Malta is the place to have a boat to enjoy a long season and to have the best destination."
He thanked the Maltese government for being extremely intelligent in creating the Maltese flag, as it is a tool vital for the industry till this day. Mr Vitelli said that the government was determined to work on the project and open for business and investment.
The Prime Minister reiterated the news that Malta is now officially the country with the lowest unemployment rate in Europe. "This is why Malta is a great place to invest, and a great place to live."
Minister for Transport Joe Mizzi expressed his satisfaction at the launch of this project. He said that yachting is one of the most popular past times of the island. Minister Mizzi said that the Maltese ship registry saw 14% increase in the last years. "Yachting sector is a sector with a huge potential. With this project, Malta can now provide berthing for up to 2,200 yachts." He said this will address the acute problem related to the shortage of berths. Some 13,000 small boats are currently registered with Transport Malta.
Photos by Michael Camilleri